Alston & Bird Consumer Finance ABstract

Third Party Payment Processors as ‘Covered Persons’: A Return to CFPB Regulation by Enforcement?

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A&B ABstract: The CFPB has recently asserted extraordinary authority to make any payment processor monitor the activities of any merchant for which it processes payments, even if that merchant does not provide consumer financial products or services. Does its argument hold up? The CFPB’s Complaint Against BrightSpeed On March 3, 2021, the Bureau of Consumer Financial Protection (Bureau or CFPB) announced that it had filed a complaint in federal court against BrightSpeed Solutions Inc. and … [Continue reading] about Third Party Payment Processors as ‘Covered Persons’: A Return to CFPB Regulation by Enforcement?

Colorado Privacy Act Becomes Third Comprehensive State Privacy Act in the United States

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Electronic Payments

The Colorado Privacy Act (CPA) became law when Governor Jared Polis signed the bill on July 7, 2021. The CPA is the third general state privacy law in the United States, following the Virginia Consumer Data Protection Act (CDPA) and the California … [Continue reading] about Colorado Privacy Act Becomes Third Comprehensive State Privacy Act in the United States

Webinar: “The CFPB Turns 10: Evaluating America’s Youngest Federal Financial Regulator”

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On Monday, July 19, Alston & Bird partners Nanci Weissgold and Brian Johnson will participate (as a panelist and the moderator, respectively) in "The CFPB Turns 10: Evaluating America's Youngest Federal Financial Regulator," hosted by the … [Continue reading] about Webinar: “The CFPB Turns 10: Evaluating America’s Youngest Federal Financial Regulator”

Upcoming Webinar on Implications of Collins v. Yellen

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On Friday, July 2, Alston & Bird partner Jason Levine will participate in a Federalist Society webinar discussing the Supreme Court's Collins v. Yellen ruling and its implications.  In Collins v. Yellen, issued on June 23, the Court held that: … [Continue reading] about Upcoming Webinar on Implications of Collins v. Yellen